Disgraced FTX founder Sam Bankman-Fried is opining about the amounts that creditors of the embattled crypto exchange will receive in compensation.
In a new interview with YouTuber Tiffany Fong, Bankman-Fried says that creditors of the FTX platform designated for United States residents, FTX.US, will get fully compensated while the creditors of the FTX platform that serves the rest of the world, FTX.com, will only get a fraction of what they are owed.
According to the former FTX CEO, the US subsidiary is “100%” solvent.
“Eventually [FTX] US will get a penny on the penny, a dollar on the dollar…
And [FTX] international will get around in like $0.20 – $0.25 on the dollar.”
The FTX co-founder says that even after the embattled crypto exchange’s US subsidiary lost $250 million in a hack, it was still solvent.
“FTX US was so f***ing solvent that even after losing like $250 million to a hack on the way to bankruptcy, it’s still solvent. About $500 million over.”
Bankman-Fried says that he was “sort of coerced” to file chapter 11 bankruptcy for FTX.US and would “give anything” to undo it.
“I was sort of coerced to doing it but I should have just said no. I had that right.
I probably would have been reported to everyone you can imagine for not doing it, but it would have been worth it. But it’s the right thing to do, not file.
I would give anything to unfile that right now.”
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